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How Start-up speculation mechanically leads to increased rents in Berlin and elsewhere.

Investors Are More Interested in Berlin’s Tech Scene Than Frankfurt’s Brexit Imports - Bloomberg - April 2018

"The surging demand has caused the purchase price for office space in Berlin to almost triple to 5,200 euros ($6,400) a square meter in the last five years, cementing the city’s turnaround from a backwater of abandoned buildings to one of Europe’s most sought-after locations."

"Buoyed by the influx of new workers, Berlin’s office vacancy rate fell to just 2 percent last year from 5 percent in 2013, Savills Plc estimates. That helped push up rents to an average of 19.20 euros per square meter from 12.30 euros during that period, according to the broker."